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The only thing that I noticed was not 100% correct is: 5. [..] courts will seize from them what you are owed The process to get a court to do this is extremel
by 300bps 4y ago
The only thing that I noticed was not 100% correct is:
5. [..] courts will seize from them what you are owed
The process to get a court to do this is extremely difficult. It often starts with Debtor Examination followed by filing a bunch of documents to start the seizing process. If the person really doesn’t want to pay the judgement though, good luck. For example, during the Debtor Examination they have to answer truthfully under oath where their bank accounts and other property are. And then as soon as the meeting is over they can move to a different bank.
Getting a judgement is the easy part. Collecting it is the hard part.
https://www.nolo.com/legal-encyclopedia/what-is-debtor-examination.html https://www.nolo.com/legal-encyclopedia/what-is-debtor-exami...
- dweekly 4y agoAh! Yes, my statement was incorrect. I had observed wage garnishment on the other side of the fence as an employer and had assumed courts would do this processing after a default judgement. This turned out to be a wrong assumption.
- 300bps 4y agoNo problem. Wage garnishment is interesting by the way - some states don’t allow it for judgements like this. It really makes it almost impossible to collect judgements in those states for a determined debtor.